Martinez Company's ending inventory includes the following items. Cost per Market per Unit Unit $57 $ 61 79 98 43 Product Helmets Bats Shoes Uniforms Units 29 22 43 47 Helmets Bats Shoes Uniforms Compute the lower of cost or market for ending inventory applied separately to each product. Inventory Items Units 85 102 43 29 22 43 47 Per Unit Cost $ 57 $ 61 85 79 102 8 Market 43 98 43 Cost $ Total Market 0 $ O LCM Applied to Items

FINANCIAL ACCOUNTING
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Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Martinez Company's ending inventory includes the following items.
Cost per Market per
Unit
Unit
$ 57
$61
85
102
43
Product Units
Helmets
29
Bats
Shoes
Uniforms
22
43
47
Compute the lower of cost or market for ending inventory applied separately to each product.
Inventory Items Units
Helmets
Bats
Shoes
Uniforms
29
22
43
47
Per Unit
Cost
79
98
43
Market
57 $
85
102
43
61
79
98
43
$
Cost
Total
Market
0 $
O
LCM Applied to
Items
Transcribed Image Text:Martinez Company's ending inventory includes the following items. Cost per Market per Unit Unit $ 57 $61 85 102 43 Product Units Helmets 29 Bats Shoes Uniforms 22 43 47 Compute the lower of cost or market for ending inventory applied separately to each product. Inventory Items Units Helmets Bats Shoes Uniforms 29 22 43 47 Per Unit Cost 79 98 43 Market 57 $ 85 102 43 61 79 98 43 $ Cost Total Market 0 $ O LCM Applied to Items
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